I must admit it looks like I will be proven wrong; I was assuming when the crisis hit cryptocurrencies would collapse immediately. Relative to the more traditional markets though they seem fine. If the ecosystem keeps doing what it does, in a few years people will have settled on a fair price for hash power and then it'll be quite competitive against these unreliable financial institutions.
Someone is going to be subsidising all the largess the regulators are going to have to distribute. That might make the cost of sustaining Bitcoin's energy burn look like the cheap option.
Someone is going to be subsidising all the largess the regulators are going to have to distribute. That might make the cost of sustaining Bitcoin's energy burn look like the cheap option.